Unsecured loan for a food wholesaler.

Opportunity:

This new client required £400K finance to assist with the cost of installing a cold storage unit in new premises, and was unhappy with the terms provided by another broker.

Approach:

At Bathgate we prepare a detailed summary of the business and client needs to the funder and our approach is to match funders to such requirements at competitive terms, with our fee structure based on developing a long-term relationship.

Solution:

A £250K loan was paid out within 4 days of the referral, and Bathgate were able to overturn a decision made by a funder that the previous broker had introduced for the remaining £150K funds needed.  The term of loan was amended from 2 years to 6 years and rates from 58.8% p.a. to 14.8% p.a.  As back up we also had an asset finance approval.